Biotech, pharma stocks mixed; stem cell shares rally

NEW YORK (MarketWatch) -- U.S. biotechnology and pharmaceutical stocks were mixed early Friday, although stem cell stocks surged after the Senate majority leader came out in support of relaxing restrictions on research. Senator Bill Frist, R-Tenn., split with President Bush, saying he would support legislation that would remove some of the government's restrictions on financing of research using embryonic stem cells. Stem Cells
stem
rose 16.3% to $6.08 on the news, while Aastrom Bioscience
astm, +0.00%
added 8% to $3.27.

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